MARKETING 351 



about the same price as on the market, but the advan- 

 tage lies in the selling of the lower grades. Ordi- 

 narily, the purchaser takes advantage of the salesman 

 when the cheeses are undergrade. The success of this 

 plan depends on the accuracy of the person grading the 

 cheese. This method seems to be growing in popularity, 

 because the cheese-buyer can purchase large amounts of 

 cheese at one time and be sure of the quality. A small 

 fee, about one-twelfth of a cent a pound, is charged for 

 handling the cheese. Similar organizations are in opera- 

 tion in Wisconsin. The boards of trade and selling 

 organizations deal almost entirely in Cheddar cheese. 



329. Mercantile exchanges. In the larger cities 

 are exchanges where cheese is bought and sold by 

 jobbers. This cheese is mostly Cheddar. The prices 

 paid these jobbers tend to fix the daily price of cheese. 

 These prices are published daily, for example, in New York 

 Price Current. Some factories ship their cheese directly to 

 these jobbers. The following are the cheese rules of the 

 New York Mercantile Exchange adopted May 4, 1915 : 



CHEESE RULES OF THE NEW YORK MERCANTILE 

 EXCHANGE 



Rule 1. At the first regular meeting of the Executive 'Com- 

 mittee in each year, the President shall appoint, subject to the 

 approval of the Executive Committee, a Cheese Committee to 

 consist of seven members of the Exchange, who are known as 

 members of the cheese trade, to hold office until their successors 

 are appointed. It shall be the duty of the Cheese Committee 

 to formulate such rules and regulations as may be necessary for 

 the government of transactions between members of the Ex- 

 change, and to revise the same as circumstances may require. 

 Such rules and revisions shall be subject to the approval of the 

 Executive Committee. 



